Tourism concern Essay Example for Free

Tourism concern Essay Introduction I have been approached by a tourism organisation to assist in researching the current and potential impacts of tourism development in a destination. I chose the Maldives because they have an impressive record of growth, while at the same time rapidly expanding their lodging capacity. There are major factors that have clearly contributed to this phenomenal growth. The remote island nature of the Maldives has been nurtured, even if guests fly in Boeing Triple Sevens and other large aircraft. 1. Tourism in the Maldives. The Maldives consists of a chain of 26 coral atolls straddling the equator south west of Sri Lanka in the Indian Ocean. The country occupies an area of sea measuring 754 kilometres in length and 118 kilometres wide where there are 1192 islands, only a small proportion of which are inhabited, and almost 80% of land is a metre or less in height (Domroes, 2001). Its distinctive geography and tropical climate are valuable tourism resources and the industry has grown rapidly since the 1970s when the first resorts were constructed on two islands. By 2007, there were 89 resort islands with over 17,000 beds and a further 35 islands were available for development (MTCA, 2007a). Tourism grew at a rate of 11. 6 percent between 1972 and 2005; 26. 5 percent between 1972 and 1982; and 6. 7 percent since 1982. These rates are well above regional or global growth rates, as might be expected for a successful emerging market. Total bednights exceeded 5 million for the first time in 2004 and the Maldives has shown steady growth since the late 1980s. The three key original markets were Germany, Italy, and the United Kingdom and these continue to be the core of the Maldives travel industry. However, new markets are also emerging regularly. While recent growth has been noted in markets such as Russia, China, Japan, and Australia, Europe still accounts for 80 percent of Maldivian tourism and Asia for 10 percent. Tourists to the Maldives have tended to be couples in recent years. The honeymoon market has been strong, but there are signs that family travel, in spite of the cost, is becoming more frequent. Originally, Maldives was a diving destination and still is, but now many travel simply for the sea and sand and the opportunity to unwind. 2. Impacts of tourism on economy, environment and social-cultural. A goal of developing the tourism industry in a community is maximizing selected positive impacts while minimizing potential negative impacts. First, it is essential to identify the possible impacts. (Cooper C, Fletcher J, 2008) 2. 1 Economic impacts of tourism on the Maldives. Tourism, Maldives largest industry, accounts for 28% of GDP and more than 60% of the Maldives foreign exchange receipts. Over 90% of government tax revenue comes from import duties and tourism-related taxes. Fishing is the second leading sector. (Tourism sector and its potential 2007) Positive impacts Particularly in Maldives tourism increases employment opportunities. Additional jobs, ranging from low-wage entry-level to high-paying professional positions in management and technical fields, generate income and raise standards of living. Maldives has the highest ratio of international tourism receipts to GDP (49. 8 percent) (WTO 2002) Especially in rural areas, the diversification created by tourism helps communities that are possibly dependent on only one industry. As tourism in Maldives grows, additional opportunities are created for investment, development, and infrastructure spending. Tourism in Maldives improved public utilities such as water, sewer, sidewalks, lighting, public restrooms, litter control, and landscaping. Such improvements benefit tourists and residents alike. Likewise, tourism encourages improvements in transport infrastructure resulting in upgraded roads, airports, public transportation, and non-traditional transportation (e. g. , trails). (Kreag G. , 2001) For example tourism help to develop the first two resorts Kurumba and Bandos both on islands in close proximity to Hulhule Airport and Male. (A report on the WTO 2002) Tourism encourages new elements to join the retail mix, increasing opportunities for shopping and adding healthy competitiveness. It often increases a communitys tax revenues. (Kreag G. , 2001) Maldives currently has almost no corporate tax revenues from tourism. Taxation is based on long-term land leases negotiated on a per-bed basis for each individual resort island. In fact, the leases amount to taxes paid in advance. In addition, each tourist pays a bednight tax of $8 and a one-time airport tax (or user charge) of $10. The other major source of taxation is duty on all imports (except for initial construction, which is exempt as an incentive); the impact of the import taxes is estimated at about 30 percent of sales. ( The world bank Maldives, 2009) Tourism in the Maldives largest industry and generates of 30% GDP. Profits from this lucrative sector have the potential to help alleviate poverty and improve living conditions for local people. (A report on the WTO 2002) Negative impacts Maldives have hyperdependency of tourism (93,8%) (Weaver D. , Lawton L 2002), that mean if tourists will stop coming to Maldives their economy will have crisis, because money will stop coming in to the country. When considering the economic impacts of tourism, it is essential to understand that tourism businesses often include a significant number of low-paying jobs, often at minimum wage or less. (Kreag G, 2001) For example tourism employees in the Maldives have won the first hurdle in their struggle for basic working rights including a minimum wage and maximum working hours, after the president agreed that new labour lows should extend to protect workers in the sector. (Tourism concern 2008) These jobs are often seasonal, causing under-employment or unemployment during off-seasons. Labour may be imported, rather than hired locally, especially if particular skills or expertise is required, or if local labour is unavailable. (Kreag G, 2001) Some tourism-related businesses are volatile and high-risk ventures that are unsustainable. Greater demand for goods, services, land, and housing may increase prices that in turn will increase the cost of living. Tourism businesses may claim land that could have higher- value or other uses. Currently, despite the Maldives luxury tourism industry, over half the population suffer abject poverty and live on just over a dollar a day. (Tourism concern 2008). Local people in the Maldives are unable to speak out about these awful conditions. The government continues to impose severe restrictions on freedom of expression. Unfair trial, torture and imprisonment occur all too often. (Tourism concern 2008). 2. 2 Environmental impact of tourism on the Maldives Tourism in the Maldives exists solely due to the physical and geographic features of the coral islands. The beauty of the underwater world at the reefs, clean water in the lagoons, white and pristine sandy beaches, a rich island vegetation and ideal tropical climate which form a virtual paradise that attracts tourists from Europe and Australasia. (A report on the WTO 2002) Pollution The first proper evaluation of tourism in the Maldives was carried out in 1983 after 10 years of tourism development. It was revealed that the pollution of the sea with garbage, piles of waste found in the resorts often close to the tourist: cottages, the picking of corals, the use of spearguns wer, features present that did not fit into the tourists image of the Maldives. Rubbish on beach is the next environmental problem identified by the resort management. Rubbish on beach mainly results from waste dumped at sea irresponsibly by neighboring resorts and inhabited islands that get washed ashore onto islands with the current and to some extent from the messy habits of certain tourists. The resort management is quite emotive on this issue as this is one issue that will reflect very badly on the image of the resort environment. (Safkar. K. , Noronha. L. , 1999) Solid waste disposal One of the most obvious impacts of tourist resort operation and one of the easiest environmental management problems to deal with and thus has been addressed in a number of reports on tourism development in the Maldives. The pollution of the sea with garbage and piles of waste found in the resorts often close to the tourist cottages were identified in 1983 among features that was not aesthetically pleasing.

The Future of Women in Sports :: Female Athletes Sports Essays

The Future of Women in Sports As the year 2010 has arrived, the problem of the portrayal of women in sports no longer lies in their fight for equality and opportunity, but in fighting off the competition with men. It is no longer an issue of women not being taken seriously or being looked down upon if they decide to be athletes, but that men want to take part in competition with women in sports. This film thus focuses on the struggles that the male protagonist faces in trying to compete with the popularity of women's sports and his desire to take part in the world of women's sports. Women in this film are portrayed as strong characters who are highly capable of doing what they do -- being professional basketball players. Their struggles lay in their dealing with fame and all the complications that it entails. These include rumors of financial problems, affairs, and infighting among teammates. The female protagonist is a character who can "do it all." She has a family, including two young children and a husband. She was raised in a proper household, but held on to her dreams of playing basketball for a living. The beginning of the film shows her struggles as a child in fighting against stereotypes, being taken less seriously than the boys, and being discouraged from playing sports. However, as she reaches high school and beyond, the sky is the limit. Her opportunities increase as women's sports in the general society are given greater emphasis and professional leagues are established for all sports that had an equivalent male league. The women's leagues' visibili ty and popularity rise among fans who become disillusioned with all the infighting that had been occurring in the male leagues. Soon, the financially disadvantaged male leagues decide to challenge the women's leagues to compete against each other. This is where the major climax of the film occurs. The male protagonist had been involved in a financial scheme within the male basketball league which ended in the murder of a major basketball star. He ends up broke, without friends, and with no possibility of playing professional basketball, especially in light of the financial distress that the league was experiencing. He knows of the success that the women's teams had been recently having and approaches the manager of his ex-team with a plan for reviving the popularity and financial wellbeing of the male league.

Personnel Policies Essay

Implementing high standard personnel policies are highly important in setting out rules and regulations that will dictate how employees will go about conducting organizational practices and operations. Aside from this purpose, personnel policies serve as guides to monitor the compliance of personnel to set rules and regulations. The content of personnel policies being implemented for compliance is broad. Its scope covers accepted organizational practices and operations that are framed within the context of the organization’s mission, goals, and objectives, ethical standards and guidelines including corporate social responsibilities, the job description, rules and regulations in carrying out the job description, necessary information that falls to an individual’s role in the company (Minnesota Council of Nonprofits, 2008) (i. e. alary, rules of termination, rules in asking for resignation, dress code, good manners and conduct in dealing with clients and leaders of the organization, the work schedule, rules and requirements in filing for a leave of absence, acceptable reasons for leaves of absence, etc. ) (NMML, 2007) With this in mind, personnel policies then become a regulating factor ensuring that employees uphold organizational goals and objectives. Aside from this, personnel policies identify the rights and duties of employees. (Minnesota Council for Nonprofits, 2008) For instance, if an employee sees the reason for the organization to raise his wages for sensible and accepted reasons, then he will be given a chance to make a plea to the leaders of the organization if the personnel policy allows this action. Another example of a right that the personnel policy can grant employees is the right to fight discrimination in the workplace. Whether it is discrimination motivated by gender bias (when a male superior harasses a female employee), cultural bias (being deprived of employee benefits because of one’s race), or any other biases not accepted by societal norms and mores, employees will be given the right under the personnel policy to take action in order to counter discrimination in the work environment. Other aspects of personnel policies that are critical to the success of the organization include how tasks and responsibilities will be delegated to personnel or staff members according to their capacity to accomplish them, the planning and implementation phases of employee training, and securing the interest of the organization as well as the employees by setting rules that are agreeable to both of them. Moreover, personnel policies seem to set a consistent and trustworthy organization because it enables them to have a guide where all business practices, operations, rewards system, policy-making steps, etc. are based on without having to argue about other aspects of these processes because personnel policies clearly provide a firm and long-existing ground. (Khungar, 2005) In the case of human resources management, the training of newly-hired employees will be based on personnel policies. With the aforementioned purpose of personnel policies to the hiring process, the human resources department ensures that all applicants that will be hired meet the standards of the organization and are willing to contribute to the accomplishment of organizational goals and objectives. This highly influences the cost of training newly-hired employees because it cuts down the required funds for conducting training-related programs. This is so because hiring is based on high standard personnel policies that ensure employees will not need to undergo strict and highly demanding training for their respective jobs. (McNamara, 2008) The pre-employment phase is the most critical factor of hiring and recruiting. It is a decisive factor that will dictate whether the organization will be well on its way to accomplish its goals and objectives because the kind of employees that the organization will be hiring will determine whether business practices and operations will be carried out by them successfully. Therefore human resources departments make sure that the pre-employment phase is thoroughly monitored and evaluated. Choosing from a diverse population of applicants is difficult because the HR department needs to make sure that the people they will be hiring meets the requirements of the organization as well as the position being called for as it is related to its great contribution to the success of the organization. During the pre-employment process, personnel policies exist to guide the hiring process. Personnel policies are laid out for applicants who will be potentially hired by the organizations. These personnel policies will determine whether applicants are able to meet the requirements set by it. For instance, part of the personnel policy is the salary for a particular position in the organization. Laying out the salary will help the applicant decide whether to take the job or not, and the organization to decide whether to hire the applicant or not in terms of his agreeable behavior towards the set salary. Aside from this reason, personnel policies also ensure that only the best of the applicants will be hired for their engagement and contribution to the success of the organization. Primarily, the records of the applicant will be screened, with regards to financial records, employment records, employment behavior in previous work, academic achievements, related experiences, criminal records, etc. This is to ensure that the applicant the organization will hire will not jeopardize the future of the organization. For instance, an applicant with drug addiction problems might hamper the growth and development of the organization because of his inability to be productive in the work place. Upholding personnel policies as directed by the goals and objectives of the organization will tell the human resources department that is responsible for hiring and recruiting to not employ the applicant to the organization because of his personal aspects that are proven to be a hindrance to organizational success. Overall, personnel policies are not only implemented within the organization for the compliance of its employees or staff members. It is also a critical determinant in the hiring and recruitment process. In conclusion, personnel policies should be framed within the context of highest standards to ensure that members of the organization and potential recruits will meet organizational standards and guidelines for its efficient accomplishment of its mission, goals and objectives.

Sexual Offenders Is The Most Vilified Type Of Offenders...

Sexual offenders are the most vilified type of offenders within public opinion and the criminal justice system. The American precedent cases of Jacob Wetterling, Pam Lyncher, Megan Kanka, and other notorious crimes perpetrated by sexual offenders with a prior history of conviction have demanded a response from the criminal justice system to increase public safety. In 1994, the Jacob Wetterling Crimes against Children and Sexually Violent Offender Registration Program was passed (Scholle, 2000), the first piece of legislation to advocate for the development of state-maintained registries of convicted sexual offenders. The legislation has been amended numerous times since then; in its present state, the law requires all states to maintain a registry, the mandatory registration of convicted sex offenders after release, community notification laws in place, and public access to the registry (Burchfield and Mingus, 2012; Lees and Tewksbury, 2006; Petrunik, Murphy, and Fedoroff, 2008; Scho lle, 2000; Tewksbury and Lees, 2006; Wagner, 2011). Sex offender registry laws were intended to increase public safety and to reduce the reoffending rates of sexual offenders. However, this paper will argue that registration has no effect on recidivism rates and that the law actually negatively impacts rehabilitative goals because of the unforeseen issues stemming from registration. An analysis of the existing body of literature concerning registration from the United States will address the

Affirmative Action Then vs. Now - 4130 Words

Affirmative Action: Then vs. Now In the 1960s when minorities and whites were equal according to the constitution but unequal in reality, a program was needed to level the playing field. Thus the Civil Rights Act of 1964 was created and prohibited discrimination. It marked the beginning of a debate that has been going on for nearly a half of a century. Affirmative action needs to be reevaluated in educational settings in light of current needs. The words affirmative action were first recorded in law in the year 1961 under the presidency of John F. Kennedy. Congress passed Executive Order 10925 instructing federal contractors to take affirmative action to ensure that applicants are treated equally without regard to race, color,†¦show more content†¦The two-track system was ruled illegal, so the University of Michigan adopted the point system, which was also rejected in 2003 when the Supreme Court ruled that unconstitutional as well. Ms. Gratz applied with a GPA of 3.8 and an ACT score in the 94th perc entile. Patrick Hamacher applied with a GPA of 3.0 and an ACT of 28. They were both turned down and went elsewhere to college. The two-track system is used on applications to decide where the emphasis is placed when considered for admissions. There are two boxes on in the application. If applicants check the first box, then the school will give most consideration to their GPAs and test scores. If they check the second box, the school will give more weight to the applicants experiences and accomplishments. The second box was designed to help blacks and Hispanics, but whites can choose it too. Rutgers came up with this system in order to try and maintain minority enrollment of one-third without engendering resentment of white applicants. The two-track system is used to deemphasize grades and test scores and favor other attributes. Instead of outright favoritism towards minorities, the application shows whether or not a student has overcome economic or cultural disadvantages, and the admissions office looks specifically for thoseShow MoreRelatedRacial Inequality And Affirmative Action900 Words   |  4 PagesCollege is a privilege that is now accessible to many people. It has not always been this way though. Lack of money, being deprived of representation, or racism hindered one’s chances in to getting into higher education, especially a minority’s chance. In order to raise against the barriers, President John F. Kennedy created the affirmative action program to provide equal opportunities for everyone, whether in education or in the workforce. Even if this was a program created in the 1960’s, problemsRead MoreAffirmative Action : The United States956 Words   |  4 PagesAffirmative Action Affirmative Action has been around for many decades from around the 1940s. Although it has not always been called affirmative action, the official title was not introduced until the 1960s. Back then affirmative action was more known as segregation or discrimination in the workplace or there lack of. The women and people of color were the targets of discrimination, which several presidents tried to correct for equality. The Past During the Great Depression affirmative actionRead MoreDebate, Suspicion and Controversy Created by College Admission Policies1275 Words   |  6 Pagesadmission policy is affirmative action. Since whites and other non-minorities feel that this admission policy doesn’t benefit them, so they attack it and say it is unjust. But in all actuality this admission policy is miniature compared to other preference such as legacy preferences. But whites do not attack this policy and overlook its significance because it benefits them. To show the significance, merit, and validity of each, I am going to explore the impacts and need for Affirmative action and legacyRead MoreAffirmative Action- Negative Team1486 Words   |  6 PagesModule 03: Group Position Paper: Affirmative Action Affirmative Action: Negative Team 1 Diversity in the Workplace Professor Linda Noeth Center for Distance Learning SUNY Empire State College Slavery in America can be traced all the way back to colonial times, or as historians have dated; 1619. Although slavery had technically been abolished by the late 1800’s, issues over race still remained prominent. Regulations such as â€Å"Jim Crow Laws†, that claimedRead MoreAffirmative Action vs Reverse Discrimination Essay1614 Words   |  7 PagesAffirmative Action or Reverse Discrimination Colleen Koehn Business Law 1038 Instructor Jackie Sexson March 1, 2010 South University Online There has been a large debate in recent years if affirmative action has gone against the American way, has affirmative action caused reverse discrimination? The establishment of affirmative action was put into place to create equal rights for racial minorities, ethnic minorities, women, the physically disabled and those who served in the militaryRead More Affirmative Action Essay787 Words   |  4 PagesAffirmative action- a plan to offset past discrimination in employing or educating women, blacks etc. (Websters New World Dictionary.) nbsp;nbsp;nbsp;nbsp;nbsp;The history of affirmative action has its roots in the Civil Rights Act of 1964, and stems from the United States Supreme case of Brown vs. Board of Education of Topeka Kansas. In 1965, President Linden B. Johnson issued Executive Order #11246 at Howard University that required federal contractors to undertake affirmative action toRead MoreAffirmative Action And The Civil Rights Act973 Words   |  4 Pagesunfortunate minorities. Among these government actions are the 14th Amendment, Equal Pay Act, and the Civil Rights Acts. John F. Kennedy perhaps created one of the most heavily debated policies today, his Affirmative Action Policy. Affirmative action is defined as, â€Å"the practice of improving the educational and job opportunities of members of groups that have not been treated fairly in the past because of their race, sex, etc.† (â€Å"Definition of AFFIRMATIVE† 1). The definition itself is vague and openRead MoreEssay on Affirmative Acti on855 Words   |  4 PagesAffirmative Action Is It Really A-Firm-Action? What is affirmative action? This has been a very interesting question throughout the past thirty years. Many people would like to answer it with simply the name given to programs that try to correct past and ongoing discriminations against women, racial minorities, and others in the work force and in education. Affirmative action was created out of Title VII of the Civil Rights Act of 1964. It actually went into effect because of an executiveRead MoreIs Affirmative Action in Higher Education Outdated?783 Words   |  3 Pagesï » ¿Is Affirmative Action in Higher Education Outdated? Affirmative action policies have been in place since 1957 (Rubio 144). Presidents Kennedy and Johnson signed executive orders in 1961 and 1964, respectively, requiring government agencies and their contractors to take affirmative steps to ensure minority participation. Johnsons order was modified two years later to include women. The Civil Rights Act of 1964 outlawed discriminatory hiring, promotion, and retention practices in both the privateRead More We Need Affirmative Action Essay1035 Words   |  5 Pages PRO-AFFIRMATIVE ACTION nbsp;nbsp;nbsp;nbsp;nbsp;What is it? Well affirmative action is, in plain text, the consideration of your class, race, gender, color, ethnicity, national origin, and disability when deciding who gets a certain job or admission into a school. If you are amenity applying for a job and there are other people that are applying as well then you will be considered for the job over one of the other people, even if they have more experience. It is not only for jobs, it is also

The Tell-Tale Heart - Critical Analysis - 1277 Words

Imagine the sight of an old mans eye, vulturous, pale blue, with a film covering it. Could this drive ones self so insane that one would murder a man because of it? This is the event that occurs in Edgar Allen Poes vivid tale The Tell-Tale Heart, from the book Designs For Reading: Short Stories. br brEvery night at precisely midnight, the narrator, who remains nameless and sexless, but for the sake of this essay I will refer to as he, ventured into the old mans room without making a sound, to observe the very eye at which the sight of made his blood run cold. The old man did not suspect a thing. During the day the narrator continued to go about his daily routine, and even went so far as to ask the old man every morning if he†¦show more content†¦151). Yet it is obvious by his actionsÂâ€" the fact that he murdered an innocent old man because of his evil eye-- that he is neurotic and mentally imbalanced. The narrators motivation for killing the man is notably obscure. It is impossible to say how the first idea entered my brain... Object there was none. Passion there was none. I loved the man. He had never wronged me. He had never given me insult. For his gold I had no desire.(p. 151). The only motivation for killing the man was his deformed eye. br brPoes tale is complete with strong foreshadowing, subtle irony, and vivid symbolism. The symbolism and irony lead to an enormously improved story as compared to a story with the same plot but with these two elements missing, while the foreshadowing adds to the suspense. The very first paragraph is full of foreshadowing. Above all was the sense of hearing acute. I heard all things in the heaven and in the earth. I heard many things in hell.(p. 151). I believe this foreshadows the fate of the narrator. Although we do not actually find out what happens to him, we know it will be profane. It is also foreshadowing his insane mannerism. Another example of foreshadowing is in the second paragraph, when he says He had the eye of a vultureÂâ€" a pale blue eye, with a film over it. Whenever it fell upon me, my blood ran cold; and so by degreesÂâ€" very gradually Ââ€" I made up my mind to take the life of the old man, and thus rid myself of theShow MoreRelated Critical Analysis of Poes The Tell Tale Heart Essay examples1635 Words   |  7 PagesCritical Analysis of Poes The Tell Tale Heart The Tell Tale Heart is a story, on the most basic level, of conflict. There is a mental conflict within the narrator himself (assuming the narrator is male). Through obvious clues and statements, Poe alerts the reader to the mental state of the narrator, which is insanity. The insanity is described as an obsession (with the old mans eye), which in turn leads to loss of control and eventually results in violence. Ultimately, the narrator tellsRead MoreThe Tell Tale Heart And The Premature Burial915 Words   |  4 PagesThe Tell-Tale Heart and The Premature Burial are two short stories by Edgar Allan Poe. The Tell-Tale Heart is about the narrator killing an old man. The Premature Burial is about a mans fear of being buried alive. The theme of the two works are closely related to fear and guilt. Poe’s stories have terrifying plots, solid themes and literary criticism. The Tell-Tale heart starts as An unknown narrator says he is nervous but not mad. Then he informs the reader that he will be telling a story aboutRead MoreEssay about â€Å"The Tell-Tale Heart† 1448 Words   |  6 Pagesâ€Å"The Tell-Tale Heart† by Edgar Allan Poe is a first-person narrative short story that features a disguised-cum-mysterious narrator. The narrator does not reveal any interest while proving his innocence regarding the murder of the old man. Moreover, he makes us believe that he is in full control of his mind but yet suffering from a disease that causes him over acuteness of the senses. As we go through the story, we can find his obsession in proving his sanity. The narrator lives with an old man, whoRead MoreEssay on Insanity: The Tell-Tale Heart by Edgar Allan Poe1165 Words   |  5 Pages â€Å"The Tell-Tale Heart† by Edgar Allan Poe is a first-person narrative short story that showcases an enigmatic and veiled narrator. The storyteller makes us believe that he is in full control of his mind yet he is experiencing a disease that causes him over sensitivity of the senses. As we go through the story, we can find his fascination in proving his sanity. The narrator lives with an old man, who has a clouded, pale blue, vulture-like eye that makes him so helpless that he kills the old man. HeRead MoreSummary And Critical Analysis Of Chaucer s The Miller s Tale923 Words   |  4 PagesSummary and Critical Analysis of Chaucer’s â€Å"The Miller’s Tale† Geoffrey Chaucer starts â€Å"The Miller’s Tale† out with an intriguing prologue. In this prologue, the Miller is found to be drunk due to his behavior towards the Reeve, and his judgment towards â€Å"The Knight’s Tale.† The Reeve and Miller have never seen eye to eye; they never have and never will. With this being said, the Miller tells a tale of a gullible carpenter whose wife cheats on him with an intelligent lodger. Since the Reeve is a carpenterRead MoreThe Tell Tale Heart Analysis1295 Words   |  6 PagesKlinger, Sabrina - Midterm Exam Explain the term ‘unreliable narrator’. How does this point of view complicate the plot in Poe’s, The Tell-Tale heart? An unreliable narrator is a narrator whose credibility has been seriously compromised whether it be in literature, film or theatre. Such as providing faulty, misleading or distorted details. The narrator in this short story is the killer. We really do not get the opportunity to really know the killer such as his name and what his motive is in killingRead MoreAnalysis Of Edgar Allan Poe s The Raven 1514 Words   |  7 PagesEdgar Allan Poe is a very well known writer who specifically liked to write poetry and short stories whose genres included mystery and horror. He’s well known for some of his most popular works such as The Raven, The Tell-Tale Heart, and Annabel Lee. Edgar Allan Poe has written many different pieces of literary work that make him unique from the rest. His literary works evoke deep thoughts and imagery. Poe was born in Boston, Massachusetts but mostly lived in Richmond, Virginia. Poe wrote his firstRead MorePhilippine vs. Anglo-Saxons Short Stories1239 Words   |  5 PagesMa. Gretchiela G. Gabral R71 Ma. Gretchiela G. Gabral R71 Comparative Analysis of Philippine and Anglo-Saxon Short Stories It could not be denied that the early Philippine short stories in English were influenced by the Anglo-Saxon. The Philippine short stories had evolved from the earlier literature of fables and folk tales and adapted the elements of the short stories of the Anglo-Saxon. The Philippine and Anglo-Saxon short stories were alike in many ways. I found â€Å"Dead Stars†, the firstRead MoreBruno Bettelheims Fairy Tale Insight Essay1646 Words   |  7 PagesThe birth of fairy tales is many times unknown, but their reputations have always remained the same. These tales not only attract children with their wondrous lands and magical charm, but they captivate the child by involving relatable characters with recognizable problems. While these stories provide mind-churning imagination, the lesson they provide does not cease to exist when the book is closed. Bruno Bettelheim, the author of Uses of Enchantment, has constructed an evaluation that fairy tale’sRead MoreEdgar Allan Poe Is An Incredibly Established American Author.964 Words   |  4 Pagesenables the audience to look deeper into the story. The way Poe can place himself in a criminal s mind is frightening. Poe’s stories always present themselves as eerie or sinister to the audience; therefore the audience is always engaged throughout the tale. An example of such a story would be Poe’s â€Å"The Black Cat.† The narrator of this terrifying short story is on death row. He is writing, confessing his crimes and trying to persuade the reader to feel sympathetic and understanding towards his offences

Business Analysis and Ratio Project †Get Complete Solution

Question: Diacuss about the Business Analysis and Ratio Project. Answer: Introduction Purpose In this given assignment, analysis of the financial standing of a organization will be done and comparison will be made on the basis and comparison will be done taking two other organization as a benchmark. Financial ratios analysis as well as strategic analysis like balance scorecard and porters theory and limitation of financial models and conventional analysis will be discussed. Case context of analysis Three Malaysian based bank had be taken for the financial comparison taking one as focus company and other two companies are taken as a bench mark. In addition, strategic analysis is made based on balance scorecard and modified porters forces (Jansen, Ramnath and Yohn 2012). After that, limitation of various financial models and conventional analysis is also discussed. Company background In this assignment, three banks have been selected for financial analysis, which are Hong Leong Bank Berhad(Focus bank), Public Bank Berhad(Benchmark Company 1) and Malayan Banking Berhad(Benchmark Company 2). Hong Leong Bank is Malaysia based listed bank performing its banking activities since 100 years. In 2011, it has merged with EON Bank Group, which to which has effectively turned it into a banking group of more than RM140 billion asset and expanded to almost 330 branches. Public bank is a Hong Kong based commercial bank established in 1934 under the authority of Hong Kong Monetary. Its share is listed in Malaysian stock exchange. Malayan bank mainly operates in Singapore, Indonesia and Philippines providing financial services. It mainly focuses on Islamic banking through its subsidiary. Key issues The main issues which has been given importance is that whether Hong Leon stands a better position in the industry as compared to other two banks and what are the measures is should take to improve its position. The affect on profitable due to various factors identified in Porters and customers satisfaction level, innovation and internal perspective of these bank on the balance scorecard is identified and evaluated. Rationale In todays world the importance of banking sectors is increasing drastically as it has became the basic need of individuals and companies. It provides funding to the companies as well as manages the savings of individuals. All the three banks are captures are performing its financial activities in Malaysian so comparison can be made easily. Financial analysis In this section various ratio will and revenue and earning capacity of Hong Leon Bank will be analyzed over five year and compared with other two banks taken as benchmark. Revenue analysis and forecast Under this section, revenue of the three banks will be analyzed, compared and discussed in depth based on which future forecast will be done. Revenue forecast (Million) Year 2011 2012 2013 2014 2015 Hong Leon Bank 2542 3894 3924 3935 4171 Malayan Bank 7102 15318 16929 21661 17542 Public Bank 7409 7747 7456 8155 9253 Percentage Change Year 2012 2013 2014 2015 Hong Leon Bank 53% 1% 0% 6% Malayan Bank 116% 11% 28% -19% Public Bank 5% -4% 9% 13% The findings from the revenue forecast clearly shows the Malayan bank is having the highest rise in compare to the Hong Leon Bank and public bank. The graphical presentation of the revenue date of further shows the Hong Leon Bank is in a declining stage than the other two banks. As per the revenue forecast the lowest trend in the revenue was observed to be in the year 2012 and expected to grow after 2015 (Maybank | Annual Report 2014. 2016). After that during the year 2013-2015, the revenue growth of Hong Leon has been much lower as compared to the other two banks whereas they have maintained a steady growth rate during the 5 years period. Although, the highest revenue has been observed to be of the Malayan bank with a revenue generation of RM 17542 million still the graph clearly shows the declining trend of the revenues. (Financials.morningstar.com. 2016). Hence, from the revenue forecast analysis it can be said that the revenue of Public bank is expected to grow at highest rate. Market Share growth In this section, the growth rate of market share of Hong Leon over five years will be discussed and compared with the other two banks. Market share growth (%) Year 2011 2012 2013 2014 2015 Hong Leon Bank 8.52 9.67 10.11 9.87 10.23 Malayan Bank 7.93 8.65 9.56 9.23 9.85 Public Bank 9.65 10.25 10.11 11.02 11.69 From the above analysis, it can be said that all the three banks have shown a moderate growth in the market share over the past five years however the growth rate of Public Bank is more than Hong Leon bank (Hlb.com.my. 2016). Therefore, it needs to improve it to become one of the leading banks in the Malaysian market. Profit margins Under this section, analysis of profit margin of three banks will be done: Profit margin 2011 2012 2013 2014 2015 Hong Leon Bank Net Profit (Million) 1135 1648 1856 2102 2233 Net Profit margin 45% 42% 47% 53% 54% Malayan Bank Net Profit (Million) 2676 5745 6552 6716 6836 Net Profit margin 38% 38% 39% 31% 39% Public Bank Net Profit (Million) 3524 3869 4065 4519 5062 Net Profit margin 48% 50% 55% 55% 55% Percentage Change Year 2012 2013 2014 2015 Hong Leon Bank -2% 5% 6% 0% Malayan Bank 0% 1% -8% 8% Public Bank 2% 5% 1% -1% Profit margin is derived as a percentage of revenue. Profit margin of Hong Leon has decreased during the year 2012 by 2 % which is much higher as compared to Public bank which has increased by 2%, whereas for Malayan bank it has not decreased at all (Vpr.hkma.gov.hk. 2016). After that during the year 2013 and 2014 profit margin of Hong Leon has increased by 6% every year, which is a good sign as compared to other two banks whose profit margin has fluctuated during these two years. Again, in 2015, the profit margin of Hong Leon has not changed and Public bank has not increased at all whereas for Malayan bank it has increased by 8%. Therefore, from the overall analysis of the past 5 years it can be said that Malayan bank is in a better position as compared to the other two companies (Financials.morningstar.com. 2016). Price Earnings Ratio Price earnings ratio Year 2011 2012 2013 2014 2015 Hong Leon Bank 10.26 11.85 11.23 11.93 12.29 Malayan Bank 9.62 10.56 11.01 11.53 11.94 Public Bank 12.38 13.07 12.96 13.58 14.6 From the analysis of the above data is can be understood that price earnings ratio of Hong Leon Bank is higher than Malayan Bank for the last five years whereas it is lower than Public Bank. Therefore, it implies that Hong Leon Bank should try to improve its price earning capacity in order to improve its market share (Maybank.com. 2016). However, Hong Leon Bank has been able to improve its price earnings ratio over the past five years, which is a very good sign. Debt level (gearing ratio) In this section, the capital structure of the three banks will be discussed and who stand a better position in debt equity mix will be analyzed. Debt Equity ratio Year 2011 2012 2013 2014 2015 Debt Hong Leon Bank 18690 18704 21566 19985 19635 Malayan Bank 65204 65855 81676 103744 12104 Public Bank 27230 23358 27072 34156 23647 Equity Hong Leon Bank 7465 11419 13037 14530 16790 Malayan Bank 34676 43815 47473 54741 63513 Public Bank 16420 18718 21197 28875 32308 Debt Equity ratio Hong Leon Bank 2.50 1.64 1.65 1.38 1.17 Malayan Bank 1.88 1.50 1.72 1.90 0.19 Public Bank 1.66 1.25 1.28 1.18 0.73 Change in debt equity ratio Year 2012 2013 2014 2015 Hong Leon Bank -0.87 0.02 -0.28 -0.21 Malayan Bank -0.38 0.22 0.17 -1.70 Public Bank -0.41 0.03 -0.09 -0.45 Debt equity ratio of all three banks has decreased during the span of 5 years, which is a very good sign as it implies that equity funding has increased as compared to debt funding during this 5 years (Hlfg.com.my. 2016). However, the debt equity ratio of Hong Leon is higher than the other two banks. Standard debt equity ratio for banking sector is less than 1 so Hong Leon should take measures to decrease it below 1 in future since other two banks debt equity ratio is already below (Palley 2013). Other ratio that are specific to industry In this section, some important ratio, which is relevant to banking sector, is to be discussed: Asset turnover ratio Year 2011 2012 2013 2014 2015 Total asset Hong Leon Bank 145498 157787 163586 170351 184020 Malayan Bank 451289 494911 560319 640300 708345 Public Bank 364870 369970 37608 38970 40234 Total Asset Turnover ratio Hong Leon Bank 0.0175 0.0247 0.0240 0.0231 0.0227 Malayan Bank 0.0157 0.0310 0.0302 0.0338 0.0248 Public Bank 0.0203 0.0209 0.1983 0.2093 0.2300 Asset turnover ratio implies that how an organization is efficiently using its asset for generating sales. It has been much below one for all the three banks however Hong Leon has been able to increase it from 0.017 to 0.024 in 2012 and remained at that level during the year 2013 to 2015 (Heikal, Khaddafi and Ummah 2014). All the three banks had maintained asset turnover ratio with the range of 0.01 0.03 which is very low and needs to be improved in the near future to survive in this competitive market (Hlb.com.my. 2016). Return on equity Year 2011 2012 2013 2014 2015 Hong Leon Bank 15.20% 14.43% 14.24% 14.47% 13.30% Malayan Bank 14.90% 13.11% 13.80% 12.27% 10.76% Public Bank 22.44% 20.45% 19.18% 15.65% 15.67% Percentage Change Year 2012 2013 2014 2015 Hong Leon Bank -0.77% -0.20% 0.23% -1.17% Malayan Bank -1.78% 0.69% -1.53% -1.51% Public Bank -1.99% -1.27% -3.53% 0.02% Return on equity implies the earning capacity of the company on the shareholders funds so that they can understand how company is utilizing their invested funds. For all the three banks it has decreased during the span of five years (Bell 2015). So they need to buck up to keep alive the faith of shareholders on them. From the above table it can be said that ROE of Hong Leon is better than Malayan Bank however, it is lower than Public bank during 2011 to 2015. Strategic Analysis Under this head evaluation of performance is based on the Porters forces and Balance scorecard as strategic analysis. Modified Porters five forces It is model to analyze the assessment of a given industry and understand the drivers that measure the competition and profitability of the organization. It the extension of porters five forces which was introduced by Michael Porter in the year 1979. The six forces were introduced in the mid 90s (E. Dobbs 2014). This model describes the six forces, which are considered while determining the corporate strategy to evaluate the overall efficiency of an industry. The six forces in terms of the three mentioned banks are discussed as follows: Competition: The banks have been observed to have several rivals in the industry. The existing rivals present in the industry faces it. All the three banks may exercise this by giving discount to the customers, new innovative product at cheaper cost (Dey 2016). If competition level between the rivals in the industry is higher than it can stifle the profitability of the whole industry. New entrants: Both the Hong Leon Bank and Public should be open to new entry of an organization which can give threat to the existing banks in order to gain market share. This puts pressure on all the three banks in relation to price, rate of investment and cost (Guggenheim 2016). The threat becomes intense when they diversify from another market as it can leverage existing cash flow, expertise and brand identity, which can put strain on the profitability of existing organization. Buyers / End User: Powerful customers tend to play a very important role in cutting down the prices and demand best quality products. Bargaining power of the loyal customer in terms of the credit finances rates becomes higher when small number of buyers avails for smaller loan products. Suppliers: The supplier effect is not present in case of the financial products hence this parameter is not applicable. Substitutes: Substitute banking products in terms the various types of the investment options available with banking institutions is major threat to the present banking services offered by the three banks. For example, the investment in the stock option can be exercised in form of both mutual fund and SIPs. Both are substitute investment option with their pros and cons. (Nguyen 2015). If the threat of substitute is very high then the profitability of the organization suffers. Complementary: This is the sixth force. It means the various types of the banking services that are offered should be compatible in nature, (Barua and Parveen 2014). If they are not compatible with each other then the impact will be negative. (Source: Yunna and Yisheng 2014) Balanced scorecard It provides the users with set of information to analyze the performance of relevant areas of an organization so that it can attain its objectives. It differs from organization to organization and includes four perspective which are financial, internal, learning and innovation and customer perspective (Humphreys, Gary and Trotman 2015). It helps the management to evaluate the performance of the managers on certain areas and decide whether they need to improve in that section or not. Balance scored Industry specific KPI Hong Leon Malayan bank Public bank Learning and internal growth Number of new products Employee Satisfaction Employee Turnover Number of trained employees or training programs New divisions Promotions The employees satisfaction can be improved in this bank an d bank needs to improve the internal factors for reducing the employee turnover This bank has showed immense potential in setting up of trained employees offering several type of the promotions among the existing employees (Ratnasingam 2014) Public bank is the best in this parameter and is successful on the formation of the several type of the divisional offers for the employees. Process or operations Innovations Technology Hong Leon have a team who are responsible to bringing new products in the market as compared to the other two banks which is a very good sign Need to identify and employ higher scope of expansion in the business activities The process needs to improved with the important Customer perspective Debit card service Credit card service Home loan and car loan service Customers of Hong Leon are satisfied with the facilities provided by the bank (Nrreklit and Mitchell 2014) Malayan bank needs to be improve in this aspect Public bank also needs to improve in this aspect Financial perspective Better Leverage Ratio Asset turnover ratio Debt/Equity Ratio Price Earnings Ratio Better Revenue Generation Hong Leon has low financial ratio. Hong Leon should take steps to improve its financial standing in near future Malayan Bank is observed to be having then best financial ratio Public Bank has moderate scope for improvement Limitations In this section various limitation of financial and conventional analysis will be discussed Limitation of financial models in analyzing performance Financial model is used to analyze performance of an organization from the data available from the financial statement i.e. income statement and balance sheet which shows various expenses, income and asset and liabilities. However, these statements never reflect how the organization is performing in the market or the exact net worth of the organization. The various difficulties and limitation of financial models are as follows: Financial Standings: Financial models never reflect the real worth of an organization i.e. the users of financial models will never understand whether the organization is worth investing in or not (Healy and Palepu 2012). Cash flow statement and income statement only shows how much the organization is earning and spending in various sections. Market trend: All the financial models are inefficient in showing the actual performance of an organization when it comes to analysis. Although the turnover of a organization increases in the year it may said to be performing well when compared to the other companies in the industry as it never reflects the market trend. Accurate liability and asset value: Financial models analyze the performance of a organization on the basis of values obtained in balance sheet (Damodaran 2016). However, balance sheet never reflects the actual value of items as they are valued at the carrying amount or book value which may differ from the market value. Past data: All the financial models is based on the past data available from financial statement. Therefore, it is impossible for it to determine the future prospects of an organization on the basis of these financial models. Limitations of Conventional Analysis Conventional analysis is the most traditional approach of measuring the financial performance of an organization. However there is various limitation of conventional analysis which is as follows: Conventional Analysis is not actionable: It describes only what has happened during the year but fails to describe why it has happened. Also it is done at the end of regular intervals like monthly, quarterly or yearly and business cant wait for so long. Conventional analysis gives emphasis to only one viewpoint of performance: Management of an organization requires determining the future performance of an organization where strategy plays an important role (Yu, Duan and Cao 2013). They need to implement the strategy to achieve the long-term goals of an organization. Managers also require a performance measure to evaluate their own performance on a daily basis. Limited guidance to future actions: conventional analysis doesnt allow the managers to evaluate the areas which is required to be developed in future for successful running of the business achievement of long term goals. Encourage actions, which may decrease both customer and shareholders value: Conventional analysis force managers to achieve short-term objectives in place of long-term objectives where the basis of remuneration is dependent on short term success of the organization, which have a negative impact on the customers as well as shareholders value (Vogel 2014). Conclusion From the above analysis it can be concluded that revenue had shown a steady growth for all the three banks whereas net profit margin of Hong Leon showed a steady growth as compared to the other two banks, which is a good sign. While Malayan bank has highest scope for growth. Debt equity ratio has decreased for the five years span which is a good sign for all the three companies whereas return on equity have decreased during this time period which not a good sign for all the three banks. Asset turnover ratio for all the three banks is very low which shows they are not properly using their asset to generate revenue. Recommendation Hong Leon should try to maintain its growth rate in future in relation to revenue and net profit and try to improve it future. It should also try to decrease its debt equity ratio further below one as it is standard for banking sectors. Debt funding should be less than equity funding in order to have a good capital structure. Hong Leon should also try to increase its asset turnover ratio as it is very so low to efficiently utilize its asset for earning revenue. It should also try to increase its Return on earning as it shows a decreasing trend in the past five years. It Hong Leon is able to improve then it then its shareholders will lose faith on the management. References Barua, A. and Parveen, S., 2014. Assessment Of Competitiveness And Country Conditions For Lpg Market Of Bangladesh: By Porters (1998) Five Forces And National Diamond Model .Proceedings of the 15th Annual Paper Meet,7, p.08. Bell, C., 2015.Generic organizational strategy integration impacts on profit margin ratio and inventory turnover in publically traded Oklahoma manufacturing organizations(Doctoral dissertation, INDIANA STATE UNIVERSITY). Damodaran, A., 2016.Damodaran on valuation: security analysis for investment and corporate finance(Vol. 324). John Wiley Sons. Dey, K., 2016. The fast food industry in the UK. Analysis of McDonalds with PESTEL, VRIN and Porter's Five Forces. Dobbs, M., 2014. Guidelines for applying Porter's five forces framework: a set of industry analysis templates.Competitiveness Review,24(1), pp.32-45. Financials.morningstar.com. (2016). Growth, Profitability, and Financial Ratios for Malayan Banking Bhd (1155) from Morningstar.com. [online] Available at: https://financials.morningstar.com/ratios/r.html?t=1155 [Accessed 9 Aug. 2016]. Financials.morningstar.com. (2016). Growth, Profitability, and Financial Ratios for Hong Leong Bank Bhd (5819) from Morningstar.com. [online] Available at: https://financials.morningstar.com/ratios/r.html?t=5819region=MYSculture=en_US [Accessed 9 Aug. 2016]. Financials.morningstar.com. (2016). Growth, Profitability, and Financial Ratios for Public Bank Bhd (1295) from Morningstar.com. [online] Available at: https://financials.morningstar.com/ratios/r.html?t=1295region=mysculture=en-US [Accessed 9 Aug. 2016]. Guggenheim, D., 2016. The Collision of Indeterminate Environments and Porters Forces: Uncertainty Fields and Their Impact on Entrepreneurial Alertness.Strategic Change,25(3), pp.239-257. Healy, P.M. and Palepu, K.G., 2012.Business Analysis Valuation: Using Financial Statements. Cengage Learning. Heikal, M., Khaddafi, M. and Ummah, A., 2014. Influence Analysis of Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Debt To Equity Ratio (DER), and current ratio (CR), Against Corporate Profit Growth In Automotive In Indonesia Stock Exchange.International Journal of Academic Research in Business and Social Sciences,4(12), p.101. Hlb.com.my. (2016). [online] Available at: https://www.hlb.com.my/main/assets/files/about-us/annual-reports/ar2015.pdf [Accessed 9 Aug. 2016]. Hlb.com.my. (2016). [online] Available at: https://www.hlb.com.my/main/assets/files/about-us/annual-reports/ar2014.pdf [Accessed 9 Aug. 2016]. Hlb.com.my. (2016). [online] Available at: [Accessed 9 Aug. 2016]. Hlfg.com.my. (2016). [online] Available at: https://www.hlfg.com.my/data/annual-reports/HLFG_AR_2011.pdf [Accessed 9 Aug. https://www.hlb.com.my/main/assets/files/about-us/annual-reports/abridge2012.pdf 2016]. Humphreys, K.A., Gary, M.S. and Trotman, K.T., 2015. Dynamic Decision Making Using the Balance Scorecard Framework.The Accounting Review. Jansen, I.P., Ramnath, S. and Yohn, T.L., 2012. A diagnostic for earnings management using changes in asset turnover and profit margin.Contemporary Accounting Research,29(1), pp.221-251. Maybank.com. (2016). [online] Available at: https://www.maybank.com/iwov-resources/corporate/document/my/en/pdf/annual-report/2011/20110909_Maybank_Annual_Report_2011.pdf [Accessed 9 Aug. 2016]. Maybank.com. (2016). [online] Available at: https://www.maybank.com/iwov-resources/corporate_new/document/my/en/pdf/annual-report/2016/Maybank_AR2015-Financial_Statements_Book.pdf [Accessed 9 Aug. 2016]. Maybank.com. (2016). Welcome to Maybank Annual Report 2013. [online] Available at: https://www.maybank.com/MaybankAR13/ [Accessed 9 Aug. 2016]. Maybank | Annual Report 2014. (2016). Maybank | Annual Report 2014. [online] Available at: https://www.maybank.com/MaybankAR14/ [Accessed 9 Aug. 2016]. Nguyen, T.T.T., 2015, June. Porters five forces reconsideration: Model of joint MBA programmes and schools fusion in the industry of Management Education as a counter point of competitive environment model. InLA BIENNALE 2015 COOPERER. Nrreklit, H. and Mitchell, F., 2014. Contemporary issues on the balance scorecard.Journal of Accounting Organizational Change. Palley, T.I., 2013. Financialization: what it is and why it matters. In Financialization (pp. 17-40). Palgrave Macmillan UK. Peppers, D. and Rogers, M., 2012. A new marketing paradigm: share of customer, not market share.Managing Service Quality: An International Journal. Ratnasingam, P., 2014. The Evolution of Balance Scorecard and its Impact on Web Services Quality.International Journal of Organizational and Collective Intelligence (IJOCI),4(1), pp.45-56. Said, H.B., 2013. Impact of ownership structure on debt equity ratio: A static and a dynamic analytical framework.International Business Research,6(6), p.162. Vogel, H.L., 2014.Entertainment industry economics: A guide for financial analysis. Cambridge University Press. Vpr.hkma.gov.hk. (2016). [online] Available at: https://vpr.hkma.gov.hk/doc/100050/ar_12/ar_12_pt02_eng.pdf [Accessed 9 Aug. 2016]. Yu, Y., Duan, W. and Cao, Q., 2013. The impact of social and conventional media on firm equity value: A sentiment analysis approach.Decision Support Systems,55(4), pp.919-926. Yunna, W. and Yisheng, Y., 2014. The competition situation analysis of shale gas industry in China: Applying Porters five forces and scenario model.Renewable and Sustainable Energy Reviews,40, pp.798-805.